18
Aug
10:38
Tata Steel eyes acquisition of state-owned RINL
Tata Steel intends to acquire Rashtriya Ispat Nigam (RINL), a state-run 6.3 million tonnes/year capacity integrated steelworks. Tata is seeking inorganic growth to capitalise on long product opportunities.
RINL is India's first shore-based integrated steel plant, Kallanish notes. Post-acquisition, Tata Steel would have more access to Southeast Asian markets. RINL is currently expanding its steelmaking capacity to 7.3m t/y.
“Tata Steel is interested in a…
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